calm down, no one's defending the monarchy.

The Crown is an entity that's part of the UK parliament and thus state, a lot of legal proceedings based on hundreds of years are law just go in there because that's what happens.

It's part of a law that has to deal with vacant goods, goods unclaimed. they have to go somewhere.

This guy didn't own 100% of his stuff, he either gave it away or sold it a long time ago, the people who owned the other half dissolved their company without selling or giving the ip back. so it' goes to the same place that everything in this situation does, it's handled by the governmental legal entity that figures out what to do with them. and yes they do sometimes just say "they don't own it" if they don't care to sell it

it's called Bona Vacantia if you want to go look it up instead of huffing and puffing over it